Senior Investors

December 23, 2001

While Washington is mulling the idea of a one month holiday for Social Security taxpayers, there is one segment of the population that has been ignored.

No mention has been made for some relief to the retirees, approximately 30 million. These are the people who supplement their Social Security income, which is poverty level, with secure investments for their savings in CDs and money market funds. The interest rate on these financial instruments have plunged 5 percent this year. This means for every $1,000 of savings invested, their return has been reduced by $50.

Shouldn't the forgotten be also included in this broad stimulus for the economy?